International Practices Task Force of CAQ Issues Update on Hyperinflationary Economies

The International Practices Task Force (IPTF), a sub-committee of the Centre for Audit Quality (CAQ) SEC Regulation Committee has published an update on hyperinflationary economies, including detailed calculations of those countries where high inflation has been experienced for an extended period. These calculations support the classification of certain jurisdictions as being hyperinflationary, which is important in the context of US GAAP’s ASC Topic 830. Similar guidance is applicable for entities applying IFRS, which includes IAS 29, Financial Reporting in Hyperinflationary Economies.

The document can be accessed here.